New highs yet again

The price of gold in domestic markets touches Rs37,714 on Wednesday, marking a new record.


Express October 13, 2010

KARACHI: The price of gold in domestic markets touched Rs37,714 on Wednesday, marking a new record. “The volatility of US dollar is pushing people across the world to switch to gold,” commented Haroon Chand of the Karachi Saraf Jewellers Association.

The price of silver has also witnessed an upward trend over the past several days, hitting a peak of Rs570 per 10 grams.

Chand highlighted that as the Hindu festival of Diwali neared, demand for precious metals was getting stronger.

The per tola price on Wednesday was recorded at a solid Rs44,000, while rates in the international market hit $1,374 per ounce.

Published in The Express Tribune, October 14th, 2010.

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